Under the Hodgman Government, TT Line is booming and the 2016-17 Annual Report confirms the momentum is showing no signs of slowing down.
The Spirits of Tasmania carried 433,925 passengers in the reporting period, which is a record amount for when two ships are operating and up four per cent on the 2015-16 numbers.
This amazing result comes after passenger numbers declined to just 330,000 in the final year of the Labor-Green government, and justifies our policy to reinvigorate the Spirits through the complete refurbishment of both vessels, the doubling of day sailings and reducing the average fare prices by 15 per cent as advised by TT Line.
It’s great news for Tasmanian businesses and the economy as we know that those who arrive via the Spirits stay longer and visit more regions than those that arrive by air. It confirms the importance of the Spirits in meeting our goal to have 70 per cent of visitors staying overnight in our regional areas and increase visitor spend by 50 per cent by 2022.
Other highlighted on the report include
- record freight volumes of with 103,430 TEUs (last year was 100,626)
- a record revenue result of $231.8 million; and
- cash and cash equivalents at the end of the financial year of more than $105 million, allowing TT Line is to pay a special dividend of $40 million that will be locked away towards the replacement of the Spirits that is required in 2022-23.
It shows what can be achieved when a majority Liberal Government has a positive plan for Tasmania’s future, and I look forward to more great results from TT Line in the future.